Finance Bill

Although it is right that the duty is constant, I am sure the hon. Lady will concede that the VAT receipts increase as the price rises. Notwithstanding whether or not there is a VAT windfall—I explained, rather well I think, why I believe there is—there is most certainly an offshore windfall, as confirmed by the Chancellor in a letter to my right hon. Friend the Member for Banff and Buchan (Mr. Salmond). That could be used to offset some of the increase in the price at the pump.